The Swedish Krona firmed against the euro in the early European session on Wednesday after Sweden’s central bank decided to maintain its negative interest rate and the future path of repo rate.
The Executive Board of the Riksbank voted to hold the repo rate at -0.50 percent.
The forecast for the repo rate was unchanged since December and indicates that slow repo rate rises are set to be initiated during the second half of this year.
The Krona advanced to a weekly high of 9.8703 against the euro, from Tuesday’s closing value of 9.9120. If the Krona rises further, 9.6 is possibly seen as its next resistance level.